WEEKAHEAD FX: Naira gains on FX window, Black market as dollar liquidity rises on Offshore Inflows



The Nigerian naira is seen appreciating marginally both on the investors’ foreign exchange window and on the black market as dollar liquidity rises on the back of offshore inflows.

The naira gained to 364 to the dollar on the black market on Thursday compared with 365 last week. It was quoted at 366.79 per dollar for investors. On the official market window it traded at around 305.90 against the dollar.

The central bank has been injecting the U.S. currency into the market even as dollar liquidity swells with rising investor interest in Nigerian assets.

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Godwin Okafor is a financial journalist, Internet Social Entrepreneur and the Founder Naija247news Media Ltd He has over 16 experiences in journalism, which cuts across traditional and digital media. He started his journalism career in Business Day, Where he was a senior editorial graphic artist, before he left to start Naija247news, An Online Financial Newspaper in 2010. He has won series of awards and he is the chairman of Emmerich Resources Limited, the publisher of Naija247news.com and also sits on the board of Students In Business Awards, (SIBA).